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PGCIL registers 16% jump in profit for December Quarter

PW Bureau

The total profits of the company also rose 14 percent to Rs 8,890.21 crore for the third quarter, compared to Rs 7,785.04 crore reported in the same time last year

New Delhi: For the quarter ended December 2018, Power Grid Corporation of India (PGCIL) has registered a 16 percent rise in net profit at Rs 2367.77. The state-owned power transmission giant had recorded a profit of Rs 2,035.95 crore in the corresponding quarter the last financial year. PGCIL’s total profits rose 14 percent to Rs 8,890.21 crore for the third quarter, compared to Rs 7,785.04 crore reported in the same period the last year.

Rise of 14% in total profit

In the third quarter, PGCIL registered a profit of 2303.76. The company's income from the core transmission business increased 11.4 percent to Rs 8,271 crore as the income from the consultancy segment grew 9 percent to Rs 156 crore.

Additionally, Power Grid's share price at the Bombay Stock Exchange closed at Rs 188.65 on Thursday, a 0.86 percent increase as compared to the previous close.

After IS Jha Relinquished his duties as PGCIL Chairman earlier this month, Ravi P Singh, director of the state-run transmission utility, was handed the duty of serving as CMD for three months, or till the appointment of a regular incumbent